SB92 Alabama 2013 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2013
Title
Corporate income tax rate reduced to five percent, const. amend.
Description
<p class="bill_description"> Under existing law, the state corporate
income tax rate is set at six and one-half percent
on the net income of corporations</p><p class="bill_description">
This bill would propose an amendment to
Amendment No. 212, as amended by Amendment No. 662
to the Constitution of Alabama of 1901, and now
appearing as Section 211.03 of the Official
Recompilation of the Constitution of Alabama of
1901, as amended, to reduce the tax rate on the net
income of corporations to five percent beginning
with the calendar year 2015</p><p class="bill_entitled_an_act"> To propose an amendment to Amendment No. 212, as
amended by Amendment No. 662, to the Constitution of Alabama
of 1901, and now appearing as Section 211.03 of the Official
Recompilation of the Constitution of Alabama of 1901, as
amended, relating to income taxation of corporations, to
reduce the tax rate on the net income of corporations to five
percent beginning with the calendar year 2015.
</p>
Subjects
Constitutional Amendments
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 5, 2013 | S | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB92 Alabama 2013 Session - Introduced |